NEAR Price Prediction: NEAR Price Gaines Bulls’ Approval

• 1 The price of NEAR is currently trading near $1.37 with an appreciation of 50.31% in the 24-hour trading volume.
• 2 NEAR price is up by 16.97% in the last 7 days.

Price prediction indicates that the Near price is presently moving in recovery mode. The Near token recently gave a positive breakout to a narrow consolidation channel where the value of the Near token surged by 13%, and analysts suggest that its value may see a further increase in the near future.

Presently, the NEAR price requires buyers’ significant support in order to obtain its target. The Near token has the potential to recover 24 – 42% of its value within the near future with the bull’s backing. Investors are projecting negative sentiments at present regarding Near protocol according to the LunarCrush platform. However, their sentiments may change as the price is taking a positive reversal from a crucial support level.

Sentiments of the Investors Regarding Near Protocol

Source: NEAR/USDT by LunarCrush

The NEAR price recorded a sharp decline in bullish sentiments among buyers. The total Bullish Sentiment metrics fell by 35.94% on the weekly timeframe. There is an increase in social engagement levels.

The parameters in LunarCrush suggest that the buyers are not positive regarding NEAR, the investors may prefer to remain on the lookout for any further positive developments as the bulls are taking charge of major cryptocurrency leaders.

Near Price Prediction: Technical Analysis on Daily Chart

Source: NEAR/USDT by TradingView

The RSI line suggests that the NEAR price may continue to move upward if it succeeds in breaching the resistance provided by the median line. The current RSI value of the NEAR token is 48.57 points. The RSI line is presently taking support from the 14 SMA levels around 30.35 points.

The stochastic RSI is steadily moving toward the overbought zone. The current value of the stochastic RSI is 58.59 points.

The 24-hour trading volume fell by 33.5% which suggests that there is a fall in overall trading activity. The price of Near token is presently observing a gain of 16.97% within the last 7 days.

Conclusion

According to the analysis, NEAR price requires significant buyer support in order to obtain its target. Parameters in LunarCrush suggest that the buyers are not positive regarding the NEAR token.

Technical Levels:

Support -$1.000

Resistance – $1.500 and $2.000

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.